MFS Investment Management has awarded its global creative and media business to two units of Interpublic Group.
Draftfcb will handle creative responsibilities and Initiative will plan and buy media. MFS’ global media spending is expected to grow to more than $20 million next year. MFS, with offices in nine cities, manages more than $366 billion in assets worldwide for both institutional and individual investors.
The hires came after a review in which there were a handful of finalists, including Merkley + Partners, according to sources. Pile + Co. in Boston managed the search.
In making the selections, Andrew Washburn, director of marketing and communications at MFS, cited what he described as Draftfcb’s “powerful and innovative thinking across the full spectrum of agency services” and Initiative’s experience in media planning and analytics.
The creative assignment includes print and digital ads. Draftfcb will handle the business out of its office in Chicago, led by management director Kristen Beaudoin. Beaudoin also manages the office’s Nestlé business (DiGiorno and Tombstone).
As lead creative agency, Draftfcb succeeds a Boston-based agency, Allen & Gerritsen, which has worked for MFS since 2000 and did not defend. The new shop’s first work is expected to break early next year.